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Commerce, Georgia

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Marcus & Millichap is pleased to present the exclusive listing for the Sonic located at 118 Steven B. Tanger Boulevard in Commerce, GA. The site will consist of roughly 1,708 rentable square feet of building space on an estimated 0.99-acre parcel of land. The Sonic is subject to a 20-year absolute triple-net (NNN) sale-leaseback, which will commence upon close of escrow. The initial annual rent will be $152,250 and is scheduled to increase by one-and-a-half percent (1.50%) annually starting year six (6) throughout the base term and in each of the four (4), five (5)-year renewal options.

About the Investment

20-Year Absolute Triple-Net (NNN) Sale-leaseback

Franchisee Guarantee from AFG SR OP II, LLC (18 Units)

1.50% Annual Rental Increases Starting Year Six (6)

Four (4), Five (5)-Year Tenant Renewal Option Periods

About the Location

Dense Retail Corridor | Surrounded By Walmart, Home Depot, Dollar Tree, McDonald’s, Burger King, Popeyes, Five Guys, Taco Bell, and More

Less than a Half Mile Away from Tanger Outlets | 66-Shop Outlet Mall

High Traffic Counts | 17,000 and 38,800 Average Daily Traffic Counts on U.S. Highway 441 and I-85

Located One Hour Northeast of Downtown Atlanta, GA and 30 Minutes from Athens, GA

About the Brand

Sonic Drive-In Opened Their First Restaurant in 1953 and Now Maintains More Than 3,600 Drive-In Restaurants

Sonic Continues to Thrive | Maintenance of Strong Real Sales Growth, Industry-Leading Customer Frequency, and High Returns for Stockholders

Rated Top QSR Restaurant Chain in 14 States Amidst Covid-19 Pandemic

Key Details

Cap Rate:
Annual Rent:
118 Steven B. Tanger Blvd, Commerce, Georgia 30529
Property Type:
Net Leased Quick Service Restaurant
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Close of Escrow
Lease Expiration:
20 Years From COE
Lease Term Remaining:
20 Years
Rental Increases:
1.50% Annually Starting Year Six (6)
Lot Size:
1708 Acres
Building Size:
0 SF
Year Built:

Broker of record

John Leonard

License: 252904

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